Opened a wholesale business that sold perfume and beauty supplies in 1994 in his southern hometown of Krasnodar. An admirer of Walmart, in 1998 established Magnit, a chain of grocery stores with the slogan "Always Low Prices." Took the company public in April 2006. Billion dollar expansion plans hampered by new Russian law that states retailers with a market share of 25% or greater are restricted from opening new stores in the same areas. Has said law is "a literal ban on the [retailing] business." As a child dreamed of becoming professional football player; in 2008 established the Krasnodar football team. Ferrari lover.